Completing The Claim Form Instruction (Page 6 of 9) in pdf

Completing The Claim Form Instruction Page 6

Recognition Agreement that must be completed and executed by you

and an officer of the housing corporation.

These forms, together with a statement (signed by an authorized

officer of the housing corporation) indicating the amount of your

proportionate share of property taxes, must be returned to the State

Controller’s Office.

Upon approval of the Notice of Election to Postpone, the State

Controller’s Office will mail you a warrant in the amount you have

elected to postpone.

Line 30 – Is your residence based on a leasehold (possessory) interest?

Check the appropriate box. If you check “Yes,” see page 9 for required

documentation.

Possessory interest property is land in California that an individual

does not own but has the right to possess and occupy. Your leasehold

(possessory) interest must be for a period of no less than 45 years from

the time you first filed for postponement. For example, if you are

filing now for the first time, your right to possess and occupy the

residence must extend at least to January 1, 2046.

If you meet the basic eligibility requirements, the State Controller’s

Office will mail you a Notice of Election to Postpone, which you are

required to execute, along with:

• An assignment of the remaining term of the possessory interest;

and

• Additional security in the form of a deed of trust

Fee owners and leasehold parties of interest are required to sign

consent forms.

Line 31 – Is your residence based on a life estate or is it under a contract of

sale?

Check the appropriate box.

A life estate entitles a person to a lifetime residence on real property

owned by another person. A contract of sale is an agreement entered

into for the purchase of property in which the title remains in the

seller’s name until the completion of the contract.

If you have a life estate interest in the property or own the home under

a contract of sale, you must attach written consent to postpone

property taxes. The consent must be given by the remainderman, i.e.,

the person(s) who will own the property when the claimant dies or

who holds title to the property under the contract.

All consent

documents must be attached to the claim when it is filed with the State

Controller’s Office.

Completing The Claim Form Instruction Page 6